Backbase, an engagement banking platform provider, has partnered with Salt Edge, an Ontario-based open banking solutions provider, to help banks meet compliance requirements and integrate open banking solutions more efficiently.
Through this partnership, Backbase customers can access Salt Edge’s compliance solutions via the Backbase Marketplace, ensuring seamless integration with their existing systems.
Banks often face challenges in developing secure authentication flows between third-party providers (TPPs) and their digital platforms, leading to high IT costs for development and maintenance.
By combining Backbase’s banking platform with Salt Edge’s compliance solutions, banks can provide a ready-to-use solution for TPPs without additional infrastructure costs.
The solution includes an end-to-end compliance framework, direct access to Salt Edge’s services, and tools for TPPs such as dashboards, self-service registration, and developer portals.
“This partnership allows banks to comply with open banking regulations while also exploring opportunities to monetise their APIs and enhance digital services,”
said Roland Booijen, General Manager Ecosystems at Backbase.
Beyond compliance, the partnership supports banks in modernising their API infrastructure and creating new revenue streams.
By using Salt Edge’s API aggregation and compliance expertise, banks can securely connect with TPPs and introduce additional services.
“Regulatory compliance should not be a barrier but an opportunity for growth and innovation,”
said Iulian Mitrea, Head of Partner Ecosystem at Salt Edge.
Featured image credit: edited from freepik
